Myanmar | Official exchange rate (LCU per US$, period average)

Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar). Development relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world. Limitations and exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output. Statistical concept and methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.
Publisher
The World Bank
Origin
Republic of the Union of Myanmar
Records
63
Source
Myanmar | Official exchange rate (LCU per US$, period average)
1960 4.7619
1961 4.7619
1962 4.7619
1963 4.7619
1964 4.7619
1965 4.7619
1966 4.7619
1967 4.7619
1968 4.7619
1969 4.7619
1970 4.7619
1971 4.76484263
1972 5.45949395
1973 4.93105531
1974 4.86252447
1975 6.37939932
1976 6.70674936
1977 7.06759976
1978 6.79826043
1979 6.58576139
1980 6.53814232
1981 7.22033727
1982 7.70906378
1983 7.9603969
1984 8.30326697
1985 8.47485
1986 7.330375
1987 6.65345
1988 6.39454167
1989 6.7049
1990 6.33855833
1991 6.2837
1992 6.10453333
1993 6.15696667
1994 5.9749125
1995 5.66704167
1996 5.91756667
1997 6.24183333
1998 6.34315833
1999 6.28579167
2000 6.516725
2001 6.74890833
2002 6.64208333
2003 6.138925
2004 5.80583333
2005 5.81816667
2006 5.84294167
2007 5.61688333
2008 5.44145
2009 5.57636667
2010 5.63488333
2011 5.44410833
2012 640.65341667
2013 933.57045636
2014 984.34574756
2015 1162.61532863
2016 1234.86951667
2017 1360.35870704
2018 1429.8079752
2019 1518.25511667
2020 1381.61916667
2021
2022

Myanmar | Official exchange rate (LCU per US$, period average)

Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar). Development relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world. Limitations and exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output. Statistical concept and methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.
Publisher
The World Bank
Origin
Republic of the Union of Myanmar
Records
63
Source